Life insurance illustration rules on the clock as full rework looms

with enrollment expected to exceed 50% of all enrollees this year, with two carriers leading the way, UnitedHealth Group and Humana.

Read the full story online: innmb.com/cmsrule23

Steven A. Morelli is a contributing editor for InsuranceNewsNet. He has more than 25 years of experience as a reporter and editor for newspapers and magazines. He was also vice president of communications for an insurance agents association. Steve can be reached at stevenamorelli@gmail.com.

Patrizio, regional vice president for Symetra, and Ryan Mattern, advanced planning specialist for Modern Life, a tech-enabled life insurance brokerage.

“There’s been a lot of changes to IUL and how they illustrate,” Rohtstein said.

AG 49-B is here

In the short term, IUL sellers need to be concerned with Actuarial Guideline 49-B, recently adopted by the NAIC. AG 49-B changes are set to take effect on May 1.

by John Hilton

Updated guidance for indexed universal life illustrations takes effect May 1, but a major overhaul of life insurance illustration regulation is coming, a Symetra executive said.

But it won’t be too long before the National Association of Insurance Commissioners reopens the overall life insurance illustration regulation, added

Gregory Rohtstein, assistant vice president, life product management at Symetra.

Both the short- and long-term illustration rule efforts are big variables when it comes to sales. The National Association of Insurance and Financial Advisors hosted a webinar diving into the latest news on illustration rules.

Rohtstein was accompanied by Steven

AG 49-B states that no index account can be illustrated above the benchmark index account and the new maximum illustrated rate must be inclusive of any bonuses, Rohtstein explained.

Read the full story online: innmb.com/newliferules23

InsuranceNewsNet Senior Editor John Hilton has covered business and other beats in more than 20 years of daily journalism. John may be reached at john.hilton@innfeedback.com. Follow him on Twitter @INNJohnH.